No idea myself why they did not just loan from the bank. Hope they have an investor lined up ready to invest.
I was never excited about the watch idea though they do have access to tens of thousands of children's parents via their own app so no need to spend on advertising for the product. If it fails there is not much of a loss but if it succeeds it could be a good earner.
I personally have no idea if the watch is needed or wanted but those who are school teachers or have school aged kids would understand the need better. Reasons against are I'm assuming the kids have smartphones already but maybe many parents will not allow smartphones so this is a great replacement.
The queensland school contract looks to be a mess, maybe some good will come out of it in future statements.
Still waiting for MWR to get back on track will hold and wait. Not expecting this business to go backwards due to the ongoing need for their product and many separate contracts to many customers meaning they are unlikely to close their MGM account simultaneously.
Positive note more schools were added despite the counting error. Accountants usually stuff everything up what can you do?
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